Breakout_Charts

Breakout_Charts

Looks like an epic cup and handle in the making for $GLD. It's getting close to make or break time. I'd like to see a break above that long term downward trend line on the possible handle. The $DXY chart suggests that the dollar is headed for a secular down trend. That chart is also getting close to an inflection point IMO. Maybe the Gold bugs finally get their...

Breakout_Charts

This is a daily candle chart of the Q's. I'm not to convinced that todays action was anything material to the trend. The major support line from the covid trough breakout is broken. Minor support from the peak at $382.11 has not been reclaimed. The index is below the 50 day SMA. Moreover, the support line on the RSI that coincides with the previous tests of the...

Breakout_Charts

Just a chart that you can use to follow along with. If you like the color scheme feel free to download it and add it to your collection.

Breakout_Charts

I can't help myself. I love big base breakouts and they're everywhere. Here's a whole list of stocks that are either breaking out of long term bases or testing long term inflection points. Use multiple time frames to find the bases. Most of them can be found on weekly and monthly charts. Here's the link to the watch list: www.tradingview.com

Breakout_Charts

So, this is a weekly candlestick chart of the QQQ. Pretty basic really. What is interesting is, there's multiple broken lines of support. We have the base breakout from the covid trough. A clearly defined trendline was established and tested multiple times along the way but was never broken on the weekly close. That trendline was broken this week. The peak from...

Breakout_Charts

I'm a big fan of what Cathy and her team are doing research wise. I caught the uptrend last fall and made money. Unfortunately the Wall Street Fashion Show has moved on from the ARK line of stocks. I do have my criticisms of ARK: They have too many funds, trade too much and catch too many falling knives. These practices are amplifying the downside move IMO. The...

Breakout_Charts

These are twelve month candles. Since the decline in rates started in 1982 there has never been a single close above overhead resistance on a year over year basis. Are we getting carried away with fear of rising rates?

Breakout_Charts

Do you believe in symmetry? Do you use Fibonacci levels? If so, you may find this confluence of Fib levels and their relationship to symmetry interesting. The S&P 500 represented by $SPY is approaching a full re-tracement of the 2020 Covid induced selloff. Moreover, the key 1.618 Fib level from that sell off was breached today, albeit hardly. The Fib trend...

Breakout_Charts Updated 

The chart speaks for itself. Since Su assumed the helm of $AMD the price movement has been predictable. Long periods of consolidation followed by breakouts and long term uptrends. Will the pattern play out again? I believe so. I started a position at $84, added to it above the mid channel around $87 and I'll be looking to fill my position at a close above...

Breakout_Charts

As bonds continue to move higher and interest rates lower, $XLRE and $REITS in general have been showing strength. $SBAC Has been on my radar for awhile and the breakout has finally happened. I believe that a position over prior resistance offers a good risk/reward ratio here and I like the stock long to the 0.786 Fib extension which happens to be just about the...

Breakout_Charts

I like the stock long over the resistance line. You can see that the price is currently knocking on the door of a previous high made all the way back in August of 2018. I think it's time for a catch up here. CNC has lagged it's sector in both price performance and valuation. $CNC Centene Corporation. Health Care Services. Trailing P/E: 17.11 EPS Growth: Last Q...

Breakout_Charts

Fib level from Fall sell off is in play. Where do we go from here?

Breakout_Charts

Hi Folks, This is a pretty simple set up here. We have a huge base on PSA going back to March 2016. The previous highs from that time are presenting textbook resistance in my opinion. I believe that PSA will break out and there's an opportunity in the setup. Here's my thesis: The XLRE has being showing relative strength to the S&P the last three months and has...

Breakout_Charts

If anyone has been watching the SPDR sectors lately, XLRE has quietly outperformed. Strength in REITS usually signifies a strengthening economy. Maybe this is an under the radar reopening play? Options premiums are dirt cheap and might be worth a look. Anyway, the charts speak for themselves.

Breakout_Charts

What is charting? Is it the study of human behavior as it pertains to the financial markets? Is human behavior predictable? Does the past indicate what may happen in the future? Lets make a long term trend analysis using TVC:SPX This chart pattern is eerily similar. Will history repeat it's self? If so, our next long term resistance period isn't reached...

Breakout_Charts

All the important elements of a head and shoulders pattern are evident on the Apple Daily. 1. An existing up trend 2. Breaking of that trend 3. Decreasing volume at each of the peaks 4. A clearly defined neckline 5. Breaking of the neckline. A bounce off the broken neckline lower would confirm the pattern. It's difficult to go short in an otherwise bull market....

Breakout_Charts

The first chart shows $XLRE breaking through resistance. I find the base formed before breaking through to be bullish. The second chart shows XLRE relative to the SPY. Looks like the long ward down trend is over. Can XLRE outperform moving forward? Thoughts? S&P 500 Sector Performance: www.tradingview.com AMEX:SPY AMEX:XLRE

Breakout_Charts

$SPY SECTOR PERFORMANCE